Tuesday, July 13, 2010

The 24 th conference of Asia Pacific Chambers of Commerce (CACCI) was held recently in Colombo.

CACCI represents 27 countries in the Asia Pacific Region with a combined population of around two billion and accounts for 22 percent of the global economy.

The newly elected president of CACCI, Ambassador Benedicto V Yujuico told the Island Financial Review, the response towards the conference in Colombo was satisfactory and vital knowledge was shared amongst members during the sessions.

The discussions were focused towards future challenges and consequences which may arise due to unplanned development.

The Ambassador said the 21st century is known as the Asian era while other western countries are facing economic difficulties.

"Now that a new world order is in place Asia has to take part in the global policy making structure," Yujuico said.

"Asia can now better control itself with the new economy after the affects of the global financial crisis passed away."

He said that emerging economies such as Sri Lanka should protect the interest of the country than bowing to international regulations.

"CACCI members have shown keen interest in investing in Sri Lanka as now they have seen the beauty and the security situation of the country. The major issue Sri Lanka is facing in attracting investment is the image which was created at the time of war which has to be re-branded in the global market," Yujuico said.

He said he met with President Mahinda Rajapaksa who has shown the path Sri Lanka is taking towards development. Possible avenues of development and future prospects were discussed at their meeting, he said.

He said his message for Sri Lanka is to promote the country internationally in a more active manner. In this regard, CACCI would assist Sri Lanka in promoting itself.

In conclusion he said, the development goals of the country can be achieved and the path Sri Lanka is taking was clear, but the time-frame given to achieve its goals was questionable.

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